Flow Rates MO Portfolio Optimisation (6 month contract)

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    6 months ago

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    6 Months

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Job Title: Flow Rates & Portfolio Optimisation Middle Office, EMEA (6 month contract)

Position Type: 6 month contract

Department: Global Middle Office - Finance

Location: 1 Angel Lane, London

Department overview:

The Flow Rates & Portfolio Optimisation Middle Office team sits within the EMEA Middle Office team and is part of the Finance corporate division. The team is responsible for managing front to back operational risk and control and is set up to offer a combined trading/sales support function and therefore interacts regularly with a wide network of internal departments including trading, sales, operations and other finance teams both onshore and offshore. Daily tasks include lifecycle management, query resolution, reconciliations and the production of the T+0 Flash P&L. Additional responsibilities include industry/regulatory change, infrastructure migration and integration and project management/delivery. As well as supporting the Flow Rates desks trading activity the team also covers Portfolio Optimisation processes working closely alongside the Business Resource Management (BRM) trading desk in reducing Nomura's various balance sheet resources, risk exposures & capital requirements. This provides the BRM desk with an operational processing and control service, performing numerous risk reducing exercises such as CCP backloading, novations and compression.

Role description:

An ideal candidate would require sound knowledge of Interest Rate Derivatives or prior experience in compression activity. We are looking for a motivated and ambitious individual with a good understanding of operational risk. Given the cyclical nature of compression cycles the candidate would be expected to alternate between Portfolio Optimisation and Flow Rates Middle Office depending on volumes.

Team Duties include:

Portfolio Optimisation

  • Work closely with the Business Resource Management (CVA & FVA) to process Portfolio
  • Optimisation exercises across Credit and Rates on an ad-hoc basis including:
  • CCP Coupon Blending
  • CCP Portfolio Transfers
  • CCP backloading
  • TriOptima / Quantile / CapitaLab vendor led compressions
  • Bilateral/Internal compressions
  • ICE Clear Europe compression cycle
  • Internal novations
  • Book Optimisation
  • Manage multiple deadlines on a daily basis, and be able to react to the BRM desk's changing strategy and priorities intra-week in a controlled manner
  • Lead across teams with Internal stakeholders to implement new types of Portfolio Optimisation, and continuously build out additional controls and efficiency changes
  • Co-ordinate Portfolio Optimisation processes across multiple trading desks across the globe
  • Ensure Nomura are globally compliant with EMIR, Dodd-Frank & JSCC regulation for trades impacted by Portfolio Optimisation processes
  • Self-identify Operational Risk and ensure these are escalated and documented internally, tracking any mitigating actions through the internal frameworks to closure Flow Rates Middle Office
  • Confirming the accuracy of trade bookings
  • Central role in managing the front to back trade flow
  • Managing the full lifecycle of trades
  • Daily flash P&L reporting and P&L attribution
  • Resolving booking issues and cash breaks
  • Monitoring and resolution of internal trade and intersystem reconciliation breaks
  • Involvement in producing all relevant reports, business controls and associated commentary
  • KRI monitoring and analysis
  • Responsible to the desk for all aspects of operations (both on and off shore)
  • Working with management to maintain and develop a range of relationships across relevant trading businesses and corporate functions
  • Working closely with all the support functions (settlements, valuations, collateral management, etc) to provide full operational support to the Front Office
  • Working across departments and regions to co-ordinate and deliver process and system enhancements
  • Active participation in the Front Office Supervisory framework
  • Providing effective challenge to the business

Skills, experience, qualifications and knowledge required:

  • Knowledge of interest rate derivative products
  • Strong interpersonal skills, the role will require daily interaction with senior Front Office stakeholders globally
  • Must be a team player
  • Organised, with a strong ability to prioritise multiple deadlines
  • Aware of core control concepts and how they apply to Middle Office on a daily basis
  • A good understanding of operational risk management


  • Advanced/Expert level Microsoft Excel skills
  • Experience in performing Portfolio Optimisation processes
  • Experience in performing compression cycles
  • Experience in Risk & control management/oversight
  • Understanding of Basel III leverage ratio and Balance sheet risk measures